Responsibilities

The Vice President, Chief Financial Officer, and Comptroller of the University of Illinois System has delegated authority to the Senior Associate Vice President for Business and Finance to establish the policies and procedures related accounting and financial reporting. The Vice President, Chief Financial Officer, and Comptroller has delegated authority to the Assistant Vice President and Controller to define responsibilities for the general accounting function and processes, in collaboration with university information technology units, business systems to accomplish this function.

The Vice President, Chief Financial Officer, and Comptroller has further delegated to the Assistant Vice President and Controller responsibility for day-to-day operations of this general accounting function and related processing. Under the direction of the Assistant Vice President and Controller, University Accounting and Financial Reporting (UAFR) is responsible to:

Develop and issue policies and procedures as they apply to system-wide general accounting and internal transactions.

Assure appropriate accounting related computer systems are developed and maintained

Implement and maintain the general ledger chart of accounts and other financial accounting classification methods, including authorization of new Banner fund and program codes for all fund types other than grant funds

Provide for general ledger data collection and data control

Process transactions through the general ledger system

Insure compliance with State of Illinois requirements, generally accepted accounting principles for public institutions of higher education, and the Office of Business and Financial Services policies

At the universities in Chicago and Urbana-Champaign, the Senior Associate Vice President for Business and Finance has also further delegated to each university OBFS chief business officer responsibility for development and general oversight of grant fund accounting processes. At the university in Springfield the Vice-Chancellor for Academic Affairs has delegated grant fund accounting responsibility to the Associate Provost for Budget and Administrative Planning. Under their direction, the associated post-award administrator at each campus is responsible to:

Meet the requirements of donors and grant sponsors, generally accepted accounting principles for public institutions of higher education, and the Office of Business and Financial Services

The Senior Associate Vice President for Business and Finance has also further delegated to the university OBFS chief business officer at each university responsibility to oversee established policies and procedures that:

Provide general supervision of the storeroom and service operations

Develop and maintain the required related manual and computer systems

Assure that storeroom and service operation rates comply with federal costing principles

University units are required to develop, implement, and comply with policies and procedures to:

Code accounting transactions correctly and submit them promptly

Monitor financial transactions

Report accruals and deferrals when requested by UAFR

Review and reconcile Banner statements and correct discrepancies

Last Updated: June 5, 2019 | Approved: Senior Associate Vice President for Business and Finance | Effective: November 2009